News
Raw materials price insurer seeks FCA authorisation
ChAI, a UK startup that allows businesses to manage supply chain risk by insuring against fluctuations in the price of materials, is seeking authorisation from the Financial Conduct Authority to set up its own insurer, Post can reveal.
MIB pledges to end uninsured driving
The Motor Insurers’ Bureau has committed to ending uninsured driving for good, as part of a new five-year strategy.
AI models threaten to ‘blow apart’ price comparison sites
Artificial intelligence large language models such as ChatGPT are set to “blow apart” price comparison website distribution, according to Stella Insurance CEO Sam White.
Fairer Finance accuses insurers of penalising poorer families
Consumer group Fairer Finance has accused UK car and home insurers of fuelling a “poverty premium” through opaque and data-heavy pricing models that penalise lower-income households.
Monzo’s new cover; Aviva boosts renewables; Laka raises £7.7m
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Exmouth community fights Allianz bid to fell 200-year-old oak tree
A community in Exmouth, Devon, has held a demonstration to oppose LV felling a 200-year-old oak tree due to subsidence.
CFC reportedly considering stock market listing
Specialist insurance provider CFC is exploring options including a London Stock Exchange listing, according to a report by the Financial Times.
£5m leasehold class action launched as legal papers issued
A class action lawsuit led by City lawyer and leaseholder Liam Spender launched today (17 July), with legal papers submitted to four freeholders and an advisory firm owned by Gallagher.
Insurance Post journalists win Headlinemoney Awards
Insurance Post’s news editor Scott McGee and senior reporter Damisola Sulaiman walked away with two of the top Headlinemoney Awards trophies.
Woodgate & Clark flags uptick in neurodiverse fraud referrals
Woodgate & Clark has seen an uptick in fraud referrals involving neurodiverse customers.
John Neal to lead AIG’s global GI business
Former Lloyd’s CEO John Neal will join AIG as president in December, reversing course on a previous decision to join Aon.
Tesco names insurance CEO after split from bank
Tesco has named Craig Bundell as CEO of Tesco Insurance and Money Services, following its split with Tesco Bank.
Pearson Ham reveals wide price gaps in landlord insurance
Pearson Ham has launched a landlord insurance price tracking service and has uncovered significant disparities in what landlords pay for property insurance.
FCA and ombudsman to overhaul compensation system
The Financial Conduct Authority and the Financial Ombudsman Service have unveiled plans to reform the consumer compensation system.
UK captives plans secure big broker backing
Aon and Marsh have backed plans to institute a UK captives regime, with the former saying it will launch a UK-domiciled captive management company in preparation for the new regulations.
Aviva and Zurich highlight inadequacy of UK climate action
Aviva and Zurich Resilience Solutions, as part of the Green Alliance Adaptation Taskforce, have concluded that 65% of UK actions to address the biggest climate risks are currently inadequate.
Regulators and Treasury move to scale back SM&CR
Regulators and the Treasury have proposed streamlining the Senior Managers and Certification Regime to drive growth in the financial services sector.
Jensten to refinance after failing to secure sale
Insurance Post understands Jensten is due to announce another refinance in the coming weeks, after again failing to secure a sale.
Industry welcomes launch of captives regime
The insurance industry has welcomed the Chancellor’s announcement launching a captives regime in the UK.
D&G CEO shares how AI insight is growing business
Domestic & General is backing artificial intelligence data-driven innovation and US expansion to further grow, according to CEO Matthew Crummack.
Saga and NatWest Boxed announce tie-up to expand range
Saga Money has struck a seven-year deal with NatWest Boxed to use the latter’s embedded finance platform to expand the products offered to the over-50s.
Biba urges chancellor to stop downward spiral
British Insurance Brokers’ Association CEO Graeme Trudgill has written an open letter to chancellor Rachel Reeves asking her to put a stop to the “downward spiral of productivity” ahead of her Mansion House speech tomorrow (15 July).
Resilience’s updated cyber proposition attracts large corporate interest
Cyber insurance provider Resilience has made inroads with 20 to 30 large corporate clients since lifting its appetite cap and launching new tools designed to make the risks facing complex conglomerates more visible.
Zurich rebrands tradespeople offering to include homeworkers
The scope of Zurich’s trades and professions product has been broadened to include home workers, Insurance Post can reveal.